Housing prices in China for May
Beijing new home prices +13.5% y/y (April +16.0%)
- m/m unchanged
Shanghai new home prices +11.0% y/y (April +13.2%)
- unchanged m/m
Guangzhou new home prices +19.4% y/y (April +21.6%)
Shenzhen new home prices +5.4% (April +6.6%)
- -0.6% m/m
All China May new home prices +10.4 % y/y (April +10.7%) Reuters calculation
- +0.7% m/m
A moderation in house price growth for the m/m data. That should be a welcome development for authorities seeking to curb both house price & debt growth
